Faculty of Economics
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Item type:Publication, The Role of Efficiency Wages in Determining the Inter-Industry Wage Differentials: Evidence from North Macedonia(Faculty of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, 2023-12-15)Nikoloski, DimitarThe efficiency wage theory states that the workers’ productivity depends on their wages, thus firms find beneficial to pay higher than the market clearing wages by expecting an increase in labour productivity. Hence, this alterative approach to orthodox economic theory assumes a reversed causality established between wages and labour productivity. The efficiency wage models take into account the potential influence of institutional arrangements. For instance, the ICT industry characteristics such as possibility for platform work affect wage levels and contribute to paying wage premium (exposure to the global competition). The evolution of real wages in North Macedonia over the last decade shows an outstanding inter-industry wage differentials, where Information and communication; and Finance and insurance appear as sectors with constantly high average real wages compared to the national average level. In order to explore the possible reversed causation between labour productivity and real wages, we estimate a homogeneous panel vector autoregression (VAR) model by fitting a multivariate panel regression of each dependent variable on lags of itself and on lags of other dependent variables using generalized method of moments (GMM). The results confirm the efficiency wage theory assumption since we found statistically significant impact of real wages on labour productivity and not vice-versa. This conclusion opens a wide room for justifying the policies that favour increases of real wages by tying them to increases in productivity. The identified wage premium, particularly from working in the ICT sector, suggests that the policy need to focus on stimulating widespread adoption of digital technologies across other sectors through education and training. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Слобода на движење на луѓе(Analytica | Thinking Laboratory, 2022); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Слобода на движење на капитал(Analytica | Thinking Laboratory, 2022); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Слобода на движење на стоки(Analytica | Thinking Laboratory, 2022); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Слобода на движење на услуги(Analytica | Thinking Laboratory, 2022); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Придобивки од економската интеграција за Северна Македонија(Analytica | Thinking Laboratory, 2022); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, POVERTY AND EMPLOYMENT STATUS: EMPIRICAL EVIDENCE FROM NORTH MACEDONIA(Faculty of Economics-Skopje, SS. Cyril and Methodius University in Skopje, 2020-11-14)Nikoloski, DimitarPoverty and social exclusion are often associated with unemployment, but being employed is not always sufficient to provide decent living conditions for workers and their families. The ‘low-wage’ workers similarly as unemployed are often associated with an image of men and women struggling to support their families and living at risk of poverty and social exclusion. Dealing with the social stratification engendered from the employment status of workers in the post-transition countries represents a challenging task for the academics and policymakers. The aim of the paper is to assess the determinants of poverty in North Macedonia from the point of view of employment status, particularly the differences between low-paid and unemployed workers. We assess the factors affecting the probability of at-risk-of poverty status by estimating a logit model on cross-section data separately for employed and unemployed persons in 2015. The analysis draws from an examination of micro data from the Survey on Income and Living Conditions (SILC) whose main scope is to enable the compilation of statistics on income distribution, as well as indicators of monetary poverty. Besides other personal and household characteristics, being low-paid appears as the most important factor for at-risk-of poverty status among employed persons, while the low work intensity is the most responsible factor for at-risk-of poverty status among unemployed persons. In addition, our analysis reveals that the social transfers do not satisfactorily cover these categories, which assumes that we need a much broader arsenal of respective policy measures aiming to reduce poverty among the vulnerable labour market segments. The proposed policy recommendations cover the following areas: education and training, active labour market policies, unionisation and collective bargaining, wage subsidies and taxation and statutory minimum wage.